Cogeco Communications (OTCMKTS:CGEAF) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Cogeco Communications Inc. (OTCMKTS:CGEAF) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $50.44 and traded as high as $52.4825. Cogeco Communications shares last traded at $52.4825, with a volume of 1,766 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CGEAF. Scotiabank reaffirmed a “sector perform” rating on shares of Cogeco Communications in a research report on Monday, January 12th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Cogeco Communications in a research note on Friday, January 16th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Cogeco Communications in a report on Friday, January 16th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Hold”.

Cogeco Communications Stock Performance

The firm’s 50 day simple moving average is $50.61 and its 200-day simple moving average is $48.20.

About Cogeco Communications

Cogeco Communications Inc is a Canadian telecommunications company that provides broadband internet, cable television and telephony services to both residential and business customers. The company’s operations are structured around two primary networks: its Canadian footprint serving markets across Ontario and Quebec, and Atlantic Broadband, its U.S. cable subsidiary operating in several states along the East Coast. Leveraging a combination of fiber-optic and hybrid fiber-coaxial infrastructure, Cogeco Communications delivers high-speed internet access, digital video, voice-over-IP and managed network solutions.

Founded in 1957 and headquartered in Montreal, Quebec, Cogeco Communications has expanded through organic growth and strategic acquisitions.